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Please solve showing steps using Texas Instrument BA calculator, thank you!! 9.15 Paul Liles is 50 years old and he decides to set aside a
Please solve showing steps using Texas Instrument BA calculator, thank you!!
9.15 Paul Liles is 50 years old and he decides to set aside a fixed amount of money every year in a pension plan. He wants to start the plan now and continue untt] he is 65 years of age (or 15 years). The money accumulated must allow him to receive $3,000 per month, starting one month after his 65 th birthday and continuing for 20 years to age 85 . If the money is invested at 10 percent, how much does Mr. Liles need to set aside each month to meet his goal? Assume 10 percent discount rate for entire period Step by Step Solution
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